Customers typically have a variety of payment options when entering into a transaction with a business, such as but not limited to cash, check, gift cards, credit cards, debit cards, or the like. Payment options, such as a credit or debit card, may be issued through financial institutions, retail stores, gas stations, airlines, and other businesses. Often, the businesses that issue the payment option provide promotions such as reward points, travel miles, cash back bonuses, product or store discounts, free gifts, or the like.
Selecting a payment option for a transaction may be as easy as grabbing the first credit card out of the customer's wallet or selecting a payment option for a transaction may be difficult and include many factors.
Utilizing a proper payment option when making a transaction may provide additional value to the customer, by maximizing the profitability from a transaction.